ES Journal Archive (2009 - 2010)

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Looks to me a H&S is forming the right shoulder on the 5 days chart around 957 SPX. Head is 960, left shoulder was yesterday morning also at 957.

Dow needs 25 pts up to do the same...

Edit: not anymore, broke out of the pattern...
 
Trend is Bear, looks a short-term top may be in.

Momentum is also currently Bear, but the Bulls are making a stand here.

Will look for opportunities to short unless market Trend and Momentum change to the upside.

Good trading
 
Quote from Pekelo:

Looks to me a H&S is forming the right shoulder on the 5 days chart around 957 SPX. Head is 960, left shoulder was yesterday morning also at 957.

Dow needs 25 pts up to do the same...

Exactly what I was seeing/thinking.
 
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